The Magazine for Asian Investors
The Commerce Department’s Office of Trade Policy and Strategy (OCP) reported that the general consumer price index (CPI), or headline inflation, was 107.41 in July, up 7.61% from the same period last year. Compared to June, there was a slight decrease of -0.16%. Average headline inflation for the first 7 months increased by 5.89%.
“For the first time in a year, inflation dropped from the previous month. This is a result of the Ministry of Commerce’s continued price fixing and intensive care for the cost of living for the consumer base. As a result, product prices remained stable,” said the director of the Office of the Public Health Commission.
Meanwhile, the core consumer price index (CPI) was 103.50 in July, up 2.99% year-on-year and 0.50% higher than in June.
The NPO has revised its inflation forecast for this year from 4.0% to 5.0% to 5.5% to 6.5%, or an average of 6%, to reflect the current economic situation.